Oil Minister: Iran To Export Oil Industry Equipment

Qom, May 11, IRNA – Oil Minister Rostam Qasemi said sanctions imposed by enemies have resulted in development in oil industry and fulfillment of domestic needs and Iran will turn into an oil industry equipment exporter. He made the remarks in Qom Friday prayers, adding that Iran turned problems caused by sanctions into advantages. He went on to say that before imposing sanctions more than 80 percent of oil development equipment was imported from western countries and now we are able to meet our domestic needs and to export the goods. He said we have started to commission 70 petrochemical plants and by putting the plants into operation, we will be among exporters of petrochemical products and polymer equipment in international arena. Qasemi said the country is less reliant on oil revenue in this year budget, instead we are using income from non-oil exports and oil budget will be allocated for infra-structure works. He said that Iran ranks first in oil and gas reserves in the world, so western countries intend to paralyze our economy by imposing sanctions. They wanted to paralyze our economy by three strategic approaches of imposing sanctions against Central Bank to hinder financial exchanges, sanctions against oil export to the other countries and creation of problems in producing oil products./end